Chicago Opera Theater

Analysis

Chicago Opera Theater is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 1974, 52 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Chicago Opera Theater reported income of $2.7m and spending of $3.4m, spending 128% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.6m to $2.7m (+3.5%), an average of +0.9% a year. The sharpest change came in the year to August 2022, when income rose by 52%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Chicago Opera Theater sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within IL. Charities of a similar size with the same main cause include Dance Downtown LA Inc ($2.7m), Norsk Hostfest Association ($2.7m) and Northwest Indiana Public Broadcasting Inc ($2.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 83% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $107k (3.1% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $2.2m against liabilities of $196k, net assets of $2.0m. It reported 230 employees.